Deutsche Bank AG grew its position in shares of Realogy Holdings Corp (NYSE:RLGY) by 112.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 861,055 shares of the financial services provider’s stock after purchasing an additional 456,117 shares during the period. Deutsche Bank AG owned about 0.75% of Realogy worth $12,639,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of RLGY. BlackRock Inc. lifted its stake in shares of Realogy by 89.1% in the 3rd quarter. BlackRock Inc. now owns 11,293,484 shares of the financial services provider’s stock valued at $233,097,000 after acquiring an additional 5,320,228 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Realogy by 77.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,142,068 shares of the financial services provider’s stock valued at $126,772,000 after acquiring an additional 2,689,633 shares during the last quarter. Norges Bank bought a new stake in shares of Realogy in the 4th quarter valued at about $19,372,000. Vanguard Group Inc lifted its stake in shares of Realogy by 7.1% in the 3rd quarter. Vanguard Group Inc now owns 18,269,980 shares of the financial services provider’s stock valued at $377,092,000 after acquiring an additional 1,213,178 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Realogy by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 18,269,980 shares of the financial services provider’s stock valued at $377,092,000 after acquiring an additional 1,213,178 shares during the last quarter.
A number of equities research analysts have recently weighed in on the company. Compass Point assumed coverage on Realogy in a research note on Thursday, January 24th. They issued a “neutral” rating and a $16.50 target price for the company. Barclays lowered their target price on Realogy from $17.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, February 27th. Finally, JPMorgan Chase & Co. lowered their target price on Realogy to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Realogy has an average rating of “Hold” and a consensus target price of $19.93.
Realogy (NYSE:RLGY) last released its earnings results on Tuesday, February 26th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Realogy had a net margin of 2.25% and a return on equity of 7.77%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $0.26 EPS. The company’s revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that Realogy Holdings Corp will post 1.24 earnings per share for the current year.
Realogy declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 26th that allows the company to buyback $175.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 2.82%. Realogy’s dividend payout ratio is presently 24.00%.
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Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.
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